China, US Agree to $30 Billion Tariff Cut, AI Dialogue During Xi Visit
The agreement covers $30 billion in non-sensitive goods and creates new trade and investment bodies to address agriculture and supply-chain disputes.
- On Friday, President Donald Trump and Chinese President Xi Jinping reached an eight-point consensus in Washington, including a $30 billion reciprocal tariff-reduction arrangement for non-sensitive goods and a new bilateral dialogue on artificial intelligence.
- This agreement builds on discussions that began at the Trump-Xi summit in Busan, South Korea, last year, where both sides described their trade talks as having reached a "basic consensus" before continuing negotiations in Beijing this May.
- The White House reported China agreed to import at least 10 million tonnes of US coal in 2027 and 2028, while both nations launched working groups targeting agricultural market access and global petroleum supply stabilization.
- Beyond trade, the eight-point consensus includes mutual support for upcoming APEC and G20 summits, reaffirmed commitments on Iran's nuclear programme, and joint anti-narcotics enforcement that has already led to dozens of arrests.
- During the state visit, the leaders agreed to build "a constructive relationship of strategic stability," a diplomatic tone underscored by US first lady Melania Trump and Chinese President Xi Jinping's wife Peng Liyuan visiting the National Archives Museum together.
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13 Articles
China, US agree to $30 billion tariff cut, AI dialogue during Xi visit
Both sides 'continue to work on US concerns regarding supply chain shortages related to rare earths and other critical minerals,' according to statement
Beijing and Washington agree on a dialogue on "superintelligence" to discuss AI, while China will import US coal in 2027 and 2028.The compromise includes improving tariff treatment for non-sensitive goods and continuing to address critical exports, highlighting technology and trade cooperation.
The US and China agreed with recommendations for a "more favourable tariff treatment" covering $30 billion in non-sensitive products traded in both directions, informed the White House on Friday night, right after the presidents of the two countries conclude a dome in Washington. Exclusive material for subscribers. To have full access, access the link of the subject and register.
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